K-loper is rite..................Most parts are made from a mold or casting. They pour hot liquid metal in to the molds and let it cool , then trim the excess off.
Forged - Anything : means it was a solid square block of metal in the beginning , and then they carved the solid block into a shape.
Like a wood carving, of say a Duck , thats forged. It started out as a solid block of wood , and then is forged or carved in to the shape of a duck .
Metal is dirt.....like rust is what steel looks like when it comes out of the ground originally.
When the steel rusts , it is simply turning back to it's original state, of a dirt or ore.
So metal is like concreat . When poured in to a block it compacts a lot more , because of it's own weight (or specific gravity weight). So the metal is much denser per square inch in a block then a mold.
And when poured in to a block there is less bubbles that can happen and leave weak spots.
There is a lot of material "waste" left over when forging , thus why it cost more.
Much more then just pouring what you need in to a mold.